US telecoms giant AT&T Inc has completed its acquisition of companies operating under the name Nextel Mexico from NII Holdings, including spectrum licences, network assets, retail stores and subscribers in Mexico. AT&T paid USD1.88 billion for Nextel, less approximately USD427 million of net debt and other adjustments.
Earlier this year, AT&T acquired another Mexican wireless provider, in the shape of Iusacell. AT&T will now seek to integrate Iusacell and Nextel into one company, while creating what it claims will be the first-ever North American Mobile Service area, covering more than 400 million consumers and businesses in Mexico and the US. Thaddeus Arroyo, CEO of AT&T Mexico and Iusacell, will lead the combined company.